Been doing this way since I opened my company when I was 20 and still do it this way at 45... Works for me.
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CVS Stores Reportedly Disabling NFC to Shut Down Apple Pay and Google Wallet
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Except I didn't suggest Google Wallet. I suggested a proxy system technically similar, but paid for, instead of being supported by data collection.
Your suggestion of using direct debit is good and might work for a lot of us, but there are many people who unfortunately need the credit part.
True. If there was no ApplePay and this happened to Google Wallet users, NFC payments would be unnecessary, the Android users would be cry babies, etc. it wasn't that long ago when the iPhone 5 wasn't going to have NFC that this forum was loaded with posts about how irrelevant and useless NFC was on a phone. It was poor technology, there were better ways, etc.
A= Cash is king.
B= Cash is used by the underworld.
C= Cash is king of the underworld.
Seriously. You're like the 20th in person in the thread who's had that same silly suggestion...
No....only idiots use credit cards that charge ridiculous amounts of interest, that's the reason I use cash...I would never pay 10 or 15 or more % on top of the actual price...that's just stupid and lazy.
The guy was talking about his business taking cash, and it got turned into going to a dominatrix and getting a high colonic, and then submitting those charges on an expense report. It was a big leap.
EDIT: I somehow got an expense report mixed up in there. I re-read your post, and would like to change "expense report" for "explaining real charges to the guy from India, (who probably doesn't care, anyway)"
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Actually, if you are disciplined enough to pay your account in full every month, it's smarter to use credit. Your cash stays in the bank for x amount of days gaining more interest until you pull it out to pay your bill, and you can earn rewards for every dollar spent on a credit card. So, no. Not only idiots use credit cards. Some really brilliant people also use credit cards.
It's akin to "I don't like the color of my neighbor's house, so I'm going to spend 20 hours to erect signs in my yard, and point out the foolishness of their choice!"
I find it easier and less stressful, and a better use of my time to, if I feel that strongly about having to use Apple Pay, just to go to another store. They're happy to see me, and I'm happy to get my stuff.
Win-win.
Probably not, but give it several months and a year and I think there's going to be some shakeups.
People are hyped about the new iPhones. People are finally talking about mobile payments in masses at least in the US because of Apple Pay.
This is exactly how I do it... I keep cash only in savings accounts... Cash goes into checking it pays off my credit bill then the rest in savings..... And if there is an off chance I want to spend beyond my means for a month (usually around christmas or a big birthday) I offset any interest accrued by the large amounts of cash back flyer miles or other rewards I get... there is no way I will ditch my Amex. I mean 6% at the grocery store 3% on gas.... I have 2 kids this is gold... I will never want to use a mobile payment system that takes out of my checking unless they are making better offers then this...
10-15%? For one on one transactions, or specialized deals, I agree, but for general (stores, or if you have employees) use, I'd go with the credit/debit cards.
We've done the same for 30 years. If you can use someone else's money for free do it.
Jokes on you.
I use my credit card for every purchase I make. As long as you pay your bill each month in full, there's no interest charges. Meanwhile, I make 5% cash back, my money sits in my bank accounts for longer collecting more interest, and my credit score continues to go higher and higher meaning I get lower interest rates on my car loan and a mortgage in the future saving me more money down the line.
Smart people use credit cards because in the long run they make me money and provide more security and warranties.
I didn't accuse him of doing those things, though in his reply he did accuse me of speaking from experience (when in real life I've only ever done one of them).
In a followup post, I suggested he was someone
I was speaking about people in general..because you know most folks aren't paying their cc off every month.
You can raise your credit score even more by not paying it off in full every month, but paying it off most months.
I'm not recommending you do that. I can't stand paying interest, so I pay mine off in full each month, too.
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I don't pay interest on my credit cards. I don't know what their interest rates are, but I pay the full amount every month and it doesn't matter.
I did finance my last car, but it was three years at 0%, so I didn't pay interest on that either.
I was perfectly willing to drive to the bank to get a cashiers check if I didn't qualify for that zero-interest loan.
rsocal,
Thanks for the post. I wish you could have that conversation with insurance companies, too. Please start with Liberty Mutual. Bandits!
LM was not the insurer on this claim. State Farm did right by me. The signature shop was odd.
Car was damaged left front, bumper dented, fender scratched, door out of alignment, headlight out of alignment, hood misaligned.
Signature shop wrote estimate for bumper only stating that the other damage was not collision related.
I asked mechanic for a referral. He sent me to the shop that did the work. They did their own estimate. SF sent an adjuster. SF adjuster disallowed the hood. Body shop aligned the hood as a courtesy. Body shop charged their original amount which was less than SF estimate.
I'm in Ohio. Insurance companies are terrible here. I'm almost afraid to stop for a light anymore. Moving target
I agree about payment methods. Take anything negotiable. The CVS Rite Aid decision is sort of strange. Payment is payment. Maybe there are contractual obligations.
Thanks again for your post. Much appreciated!
I would have liked to helped you out. A lot of insurance Companies can be misleading!
I believe giving customers as many options to pay, will only benefit the business.
We take all credit cards and Amex is a killer in fees but, a good majority of customers use Amex to get their miles. I can't tell you how many customers thank us for taking Amex to get miles!
We are going to put NFC in ASAP, I've already had some customers call to see if we will be taking Apple Pay. Never had anyone ask for Google Wallet or this MCX coming out next year.
I have nothing against CVS or Rite-Aid, however I'll will switch to Wallgreens now as turning NFC off not only effects Apple Pay. There's other NFC payments that will be shut off!
I want the choice to use the safest method form of payment when available.
This IMO, is going to hurt CVS/Rite-Aid. As well as Walmart and
Best Buy etc. We have store choices.
There's a lot of CVS/Rite-Aids out there, and this weekend alone they lost a lot in sales. If 5 people out of each of their stores went somewhere else, they lost a lot of money this weekend alone!
If that were to continue, add it up over a year?
These stupid business decisions can devastating!#
While true for a small minority, I'd much rather have the perspective of, "what does a millionaire do?" Do you think they have the same behavior? If yes, ok. If no, why not? Me personally, although I am not a millionaire, I'd much rather use their same line of reasoning, whatever that may be, so that I can join the club much sooner than those who keep status quo (IE people who drive brand new cars since majority of millionaires do not).
And credit cards don't charge 10% which is what his cash discount is.
Exactly, which is odd. There's a Vietnamese restaurant in Spokane, WA that also gave me a 10% cash discount. I still wonder what they were up to. A 10% cash discount makes no sense unless books are being manipulated.
No its to ensure our privacy. Do you really want CurrentC going though phone contacts and health information etc...